Defensives Dominate: KO, MO, PEP At New 52-Week Highs

Shares of stocks which are viewed as 'defensive' continue to perform extremely well amid the uncertainty and volatility surrounding the U.S. markets. Defensive stocks become more attractive during periods of potential slowing growth as the underlying companies are less tied to economic concerns than many other companies which often rely on a cyclical trend. Stocks such as Coca-Cola (NYSE: KO), Altria (NYSE: MO) and PepsiCo (NYSE: PEP), to name a few, are seen as safe-havens during periods of economic contraction because consumers will continue to buy soda, in the case of Coke and Pepsi, or smoke cigarettes, for Altria, no matter what the economy is doing.

The stock price's of these three defensive plays have all hit new 52-week highs today: Coca-Cola's stock price has gone as high as $64.75, Altria, which owns Philip Morris USA and International, has marked a new 52-week high at $79.56, and shares of Pepsi moved to an all-time high of $79.32. Notably, another company viewed as highly defensive, Johnson & Johnson (NYSE: JNJ) is trading just under its 52-week of $68.75, only 46 cents below this benchmark.

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